Share Market Update: Sensex fell by 1000 points, Nifty also fell by 300 points, heavy selling in auto and banking shares.

Business Desk- Share Market Update: There is a decline in the share market. Sensex is trading at the level of 76,300 with a fall of almost 1,000 points. Nifty is also trading at 23,900 with a decline of more than 300 points. Today the biggest decline is being seen in the shares of auto, banking and realty sectors.

3 main reasons for market decline

Fear of supply chain disruption due to Iran-Israel conflict. Due to rising prices of crude oil, India’s import bill is expected to increase and inflation will increase. The decline in Asian markets is also affecting India.

Mixed business for Asian markets

Mixed business was seen in Asian markets. South Korea’s KOSPI index closed at 7,828 with a gain of 317 points (4.29%). In contrast, Japan’s Nikkei index closed at 62,487, down 250 points (0.36%).

Hong Kong’s Hang Seng index was also trading down, down 80 points (0.30%) at 26,313. Selling pressure from foreign investors continued in the domestic market.

Foreign institutional investors (FIIs/FPIs) have sold shares worth Rs 13,908 crore in the last seven days, while their total selling in the last 30 days stood at Rs 42,235 crore. On the other hand, domestic institutional investors (DIIs) supported the market.

DIIs bought shares worth Rs 16,629 crore in the last seven days and Rs 36,474 crore in the last 30 days. In the recent trading session, DIIs bought shares worth Rs 6,748 crore, while FIIs/FPIs sold shares worth Rs 4,111 crore.

There was a decline in the market on Friday also

Earlier, on May 8 also a decline was seen in the stock market. The Sensex closed at 77,328 with a fall of 516 points. Nifty also fell 150 points and closed at 24,176.